Derbyshire Building Society equity release rates and criteria

• Release tax-free cash from your house with The Derbyshire Building Society Equity Release
• No need to make regular monthly payments
• Use the money for a motorhome or a new car
• Free valuation
• Continue to stay in your property.
• Often used to optimise tax planning.
• 5.09%

Loan-to-value for equity release?

You can get 65% of your property’s value. For example, if your house is worth £300,000, you can release £195,000.

Concise Finance Customer Reviews

Sophie G from Aberdeen

The financial advisor I’ve had for 25 years said I could save inheritance tax by getting £350,000 of equity release. The money was lent at a meagre interest rate, close to 2%, and competitive with regular mortgages you would get by providing income. I have saved a lot of tax.

Ms T from Hammersmith

My husband recently died, leaving me with a mortgage I could not afford to pay. The lifetime mortgage allowed me to pay off the mortgage and have enough money left over for a new bathroom, kitchen, and roof repair.

Mr Williamson from Chiswick

My son is a chef in a care home. He is poorly paid, and his bank would not lend him the money to buy a flat. My equity release let him put a substantial deposit down, so his mortgage was minimal. My equity release interest rate was close to the interest rate offered by his bank.

Mrs V from Hastings

I had spent my life running up credit cards and loans, then getting interest-only mortgages to pay off the debt. I got to retirement age and still owed the bank £160,000. The term was about to expire, and I could not afford the payments on my pension anyway. I got £180,000 equity release, and now I am more comfortable with no monthly repayments, and I spent £20,000 on a new bathroom and kitchen. I now know I can stay at home.

Mr Smith from Kendal

My financial advisor told me I should get an equity release and gift money to my five children now, as it would save a massive amount of inheritance tax.

Mrs M from Birmingham

With no broker fees and no lender fees, I got an interest-only retirement mortgage that I pay monthly from my private pension. The money released went to my daughter for her wedding and a deposit for her next house. She wanted a family, and her flat was too small.

Mrs G from Leeds

My daughter is a single mother, and I got a £ 120,000 lifetime mortgage to buy her a flat outright as she has had a succession of poorly maintained rental flats not suitable for her child.

Mrs E from London

I was advised to take out an equity release on my East London home to minimise inheritance tax. My son and daughter used the money to pay down their mortgages. The interest rate on the equity release was so low that it was close to their mortgage rate.

Mr G from Kent

I took out an interest-only lifetime mortgage and gave my sons £100,000 each to put down as a deposit on a home. My money gave them an excellent mortgage deal, especially for one of their poorly paid sons.

David P

With my power of attorney, I got an equity release on my father’s house to pay for disability provisions, including a lift and a new kitchen.

Areas of the UK where Lifetime Mortgages are routine

• Biddulph
• West Malling
• Haltwhistle
• Shildon
• Southgate
• Burnham-on-Sea
• Dukinfield
• Dalton Town with Newton
• Bruton
• Wadebridge
• Harpenden
• Cleator Moor
• Desborough

The mortgage lender will want to know whether the property is a semi-detached freehold house or a Leasehold flat, and whether the resident is an owner-occupier.

Successful business owners who could benefit from the Home Reversion Scheme for estate planning

• Another retail sale in non-specialised stores in Southborough
• Sawmilling and planing of wood, Heywood
• Motion picture, video and television programme post-production activities, Chulmleigh
• Manufacture of wine from grapes in Weston-super-Mare

More to Life Retirement Mortgages

Just Lifetime Mortgages

Canada Life Drawdown Lifetime Mortgages

Crown Mortgages

One Family

LV Lifetime Mortgages

Pitfalls of Home Reversion Schemes

Lifetime lump-sum mortgages can reduce the value of your estate. Monthly payment equity release may impact your ability to claim entitlements. You may need to pay a valuation fee, and with some products, you could be exposed to changes in interest rates.

How much is it expected to release from a home

• 50% monthly payment lifetime mortgage AIG Life
• 55% LTV interest-only lifetime mortgages Equifinance
• 35% loan-to-value, monthly payment, equity release, Shawbrook
• 25% LTV home reversion plans The Mortgage Works
• 55% LTV interest-only lifetime mortgages, Age Partnership
• 30% LTV home reversion schemes, United Trust Bank
• 25% LTV lifetime mortgage with flexible drawdown cash release, Accord Mortgages

Tough-to-finance home titles can include properties built or converted into dwellings within the last ten years, properties with a single annexe or other self-contained part of the property, properties with a small number of solar panels or a wind turbine on the land for domestic use, properties using rooms, land or outbuildings for business purposes which are not personal to the borrower(s) or which extend to more than 50% of the property to be secured and properties with mobile phone masts which are within influencing distance of the house.

Difficult-to-finance property types can include properties with post-1945 asbestos or similar composition roof tiles, timber-framed properties built between 1920 and 1965, privately developed flats, up to four storeys with a lift, privately developed flats in blocks of five storeys or more, and properties where the flat is accessed via a deck or balcony.

Difficult-to-mortgage property types include properties undergoing substantial alterations, extensions, or repairs; entirely tenanted properties; freehold houses and bungalows (England, Wales, Northern Ireland); crofted houses; and properties with owned solar panels.

Typical loan-to-values of Standard Chartered later life mortgages for over 60s, Zurich lifetime mortgages for people over 55, Sainsbury’s mortgages for people over 50, Principality Building Society mortgages for those over 65, Nottingham Building Society retirement interest-only mortgages over 60, and Progressive Building Society mortgages for people 60 plus are 50%, 60% and 70%.

UK Equity Release Scheme Lenders

• Age Partnership
• One Family
• Legal and General
• One Family

The popular LTV ratios of LVE equity release plans for people over 60, More 2 Life later life interest-only mortgages for people over 60, OneFamily lifetime mortgages for people over 55, YBS mortgages for over 60s, Royal London mortgages for 60-year-olds, and SunLife mortgages for 60-year-olds are 35%, 55%, and 65%.

• Bad Credit Mortgage Broker
• Nationwide Retirement Mortgage Age
• Natwest Lifetime Mortgage Maximum Ltv
• Nationwide Lifetime Mortgage On Second Property
• Natwest Retirement Mortgage UK
• steel frame housing problems Lifetime Mortgage Calculator
• Tipton & Coseley Mortgage Advisers
• Over 60 years old Bank Retirement Mortgages Home
• Age Partnership Advice
• Under 50 Equity Release Loan
• BISF Equity Release Loan
• Nationwide Equity Release From Property
• Barclays Retirement Interest Only Mortgage Drawdown Scheme
• Natwest Equity Release From Property
• Best Mortgages For Over 50s Retirement Mortgage UK
• Yorkshire Building Society Lifetime Mortgage Broker
• Overhead power lines, Equity Release Retirement

Some of the most popular loan-to-value percentages of Lloyds later life interest-only mortgages over 75, Barclays interest-only lifetime mortgages for over 70s, NatWest lifetime mortgages for people over 55, Legal and General pensioner mortgages over 60, Royal Bank of Scotland pensioner mortgages over 55 and Nationwide Building Society retirement mortgages over 65 are 50%, 55% and 65%.

• L&G Legal & General Flexible Lifetime Mortgage
• Pure Retirement Equity Release Plans
• Canada Life Second Home Voluntary Select Plan
• More to Life Capital Choice Plus Plan
• Liverpool Victoria LV Equity Release Schemes
• Nationwide Interest-Only Lifetime Mortgage
• Royal Bank of Scotland Equity Release Plans
• Aviva Lifetime Mortgages for Pensioners
• Bridgewater Equity Release Schemes
• Hodge Lifetime Flexible Drawdown Plan
• Pure Retirement Equity Release Schemes
• TSB Equity Release Plans
• Bridgewater Equity Release Plans
• Canada Life Lifestyle Gold Flexi
• Just Retirement Equity Release
• L&G Legal & General Flexi Max Voluntary Repayment Plan
• Pure Retirement Classic Drawdown Lite Plan
• Lloyds Bank Lifetime Mortgage
• Royal Bank of Scotland Equity Release
• Age Partnership Lifetime Mortgage

It’s common to encounter people looking for lump-sum lifetime mortgages, monthly-payment lifetime mortgages, or home reversion schemes; however, a Lifetime Mortgage from L&G, like AA equity release, is keen to see paperwork showing your financial situation, such as investment statements.

Equity Release percentages of your current property value

The older you are and the unhealthier you are, the more tax-free cash you can release.

Many of the most appealing pensioner finance products include TSB help-to-buy for those over 60, Barclays retirement mortgages, NatWest mortgages for pensioners, Legal and General mortgages for 60-year-olds, and Nationwide retirement interest-only mortgages.